Mulberry to launch Asian business
29/03/2017
Ms Ong owns a 56% stake in the UK-based brand through her company, Challice. She will control 40% of the new venture, which will be called Mulberry Asia, with Mulberry retaining the remaining 60%.
“Mulberry Asia enables us to advance our international strategy of developing the brand in a key luxury market,” said Thierry Andretta, chief executive of Mulberry. He added that the company sees a “significant growth opportunity” in the region.
Mulberry Asia will launch on April 3. It will initially have four stores - two in China, one in Hong Kong and one in Taiwan – with plans for a new store in Shanghai and the relocation of existing stores in Hong Kong and Beijing.
Mulberry is to invest £3 million in marketing over the next two years to attract Asian tourists who usually shop in the UK, Europe and North America.
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